Custom imposes anti dumping duty on cold rolled flat stainless steel

Custom has imposed anti dumping duty on stainless steel cold rolled flat of 400 series having a width of less than 600mm including all ferr...

Custom has imposed anti dumping duty on stainless steel cold rolled flat of 400 series having a width of less than 600mm including all ferritic and martensitic grades excluding razor blade steel. Anti dumping duty is a tool with the government with this the imported material will cost high for the importers. This is used mainly to save the domestic industries with the competition Custom department has issued a notification no. 46/2012 dated 04 October 2012 about imposing the anti dumping duty on cold rolled stainless steel 400 series. Full notification is as under.

Notification No. 46/2012 – Customs (ADD)

New Delhi, dated the 4th October, 2012

G.S.R. 741(E). - Whereas in the matter of imports of Cold Rolled Flat Products of Stainless Steel(400 Series) having width below 600 mm,(hereinafter referred to as the subject goods), classified under Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from, European Union, Korea RP, and USA (hereinafter referred to as the subject countries) and imported into India, the designated authority in its final findings vide notification No. 14/19/2010-DGAD, dated the 14th November, 2011, published in the Gazette of India, Extraordinary, Part I, Section 1, the dated 14thNovember, 2011, had come to the conclusion that –

(a) the subject goods had been exported to India from the subject countries below their normal value;

(b) the domestic industry had suffered material injury;

(c) the material injury had been caused by the dumped imports of the subject goods from subject countries;

(d) the injury has been caused cumulatively by imports from the subject countries;

and had recommended imposition of definitive anti-dumping duty on the imports of subject goods, originating in, or exported from, the subject countries;

Now, therefore, in exercise of the powers conferred by sub-section (1) and sub section (5) of section 9A of the said Customs Tariff Act, read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government, on the basis of the aforesaid findings of the designated authority, hereby imposes on the subject goods, the description and specification of which is specified in column (3) of the Table below, falling under sub-heading of the First Schedule to the said Customs Tariff Act, specified in the corresponding entry in column (2), originating in the subject country specified in the corresponding entry in column (4), and exported from the country specified in the corresponding entry in column (5) and produced by the producer specified in the corresponding entry in column (6) and exported by the exporter specified in the corresponding entry in column (7), and imported into India, an anti-dumping duty at a rate equal to the amount specified in the currency per unit of measurement specified in corresponding entry in column (8), of the said Table:-

Sub-heading

Description of Goods

Country of Origin

Country of Export

Amount

Specification

USD/MT

7220.2

Cold Rolled Flat Products of Stainless Steel of 400 series
having a width of less than 600mm
including all Ferritic and Martensitic grades excluding Razor Blade
Steel.

Korea R.P.

Korea R.P.

1491

7220.9

- do -

Any country other than Korea R.P

1491

Any country other

Korea R.P.

1491

than subject countries

7220.2

Cold Rolled Flat Products
of Stainless Steel of 400 series having
a width of less than 600mm including all Ferritic and Martensitic
grades excluding Razor Blade Steel.

EU

EU

1491

7220.9

do

Any country other than EU

1491

Any country other

EU

1491

than subject countries

7220.2

Cold Rolled Flat Products of Stainless
Steel of 400 series having a width of
less than 600mm including all Ferritic
and Martensitic grades
excluding Razor Blade Steel.

USA

USA

1491

7220.9

do

Any country other than USA

1491

Any country other

USA

1491

than subject countries

Landed value of imports for the purpose shall be the assessable value as determined under the Customs Act, 1962 and includes all duties of customs except duties under Sections 3, 3A, 8B, 9 and 9A of the Customs Tariff Act, 1975.

2. The anti-dumping duty imposed shall be levied for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be payable in Indian currency.

Explanation. – For the purpose of this notification, “rate of exchange” applicable for the purposes of calculation of such anti-dumping duty shall be the rate which is specified in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act.